The fact that PM May's Brexit bill was........>

CABLE: The fact that PM May's Brexit bill was defeated for a second time by a

lower margin saw cable spike up to $1.3148 only to drop back to $1.3051. After a

few volatile gyrations it eventually settle around $1.3070 into the close. Cable

slowly clawed its way higher through Asia, edged from an early low of $1.3061 to

$1.3101 ahead of the European open. Quick spike up to $1.3122 seen as European

trade got underway, the move seen as a reaction to headline that the UK will

scrap 87% of tariffs and refuse to set up Irish border checks under a no-deal

Brexit. Parliament is due to vote on a no-deal Brexit later today(1900GMT), PM

May allowing a free vote for her Conservative party. No-deal expected to be

rejected, opening a vote for an Article50 extension ask Thursday (though that

decision, and conditions, will be for the EU). Market remains open to Brexit

headline risk. 

- Chancellor Hammond is due to present his Spring Statement to the House.

- Cable currently seen within a $1.3050-1.3150 range, a break on the topside to

expose $1.3200.